BFFEA urges govt to allow export of hilsha bought with bank loans
Thursday, 19 July 2007
FE Report
Bangladesh Frozen Foods Exporters Association (BFFEA) has requested the government to allow export of hilsha, purchased with bank loans.
The association made this plea Tuesday as a large quantity of hilsha fish has remained stockpiled due to sudden imposition of restriction on export over the next six months.
The BFFEA sent a letter to the commerce ministry Tuesday in this connection.
In the letter, BFFEA president Kazi Belayet Hossain said: "The exporters will face an acute financial problem as they have purchased a large quantity of hilsha fish with bank loans. The fish is now stored in cold storages due to the sudden ban."
Some leading frozen foods exporters had been exporting hilsha fish over the years to the countries in Europe, the USA and Canada. They borrowed a significant amount of bank loan for this purpose.
The BFFEA made the appeal to allow export of those hilsha, purchased with the bank loan.
While talking to the FE, commerce secretary Firoz Ahmed said: "The exporters will be allowed to export those hilsha, for which they have already opened letters of credit (L/Cs). But the government has banned fresh export of hilsha for the next six months."
The government has successfully controlled the sale of 'Jhatka' (hilsha fries), resulting in the availability of large-sized hilsha in the markets.
The government banned hilsha export for the next six months to bring down the prices of the delicious fish.
However, the prices are still maintaining the same trend despite imposition of the ban on export.
Bangladesh Frozen Foods Exporters Association (BFFEA) has requested the government to allow export of hilsha, purchased with bank loans.
The association made this plea Tuesday as a large quantity of hilsha fish has remained stockpiled due to sudden imposition of restriction on export over the next six months.
The BFFEA sent a letter to the commerce ministry Tuesday in this connection.
In the letter, BFFEA president Kazi Belayet Hossain said: "The exporters will face an acute financial problem as they have purchased a large quantity of hilsha fish with bank loans. The fish is now stored in cold storages due to the sudden ban."
Some leading frozen foods exporters had been exporting hilsha fish over the years to the countries in Europe, the USA and Canada. They borrowed a significant amount of bank loan for this purpose.
The BFFEA made the appeal to allow export of those hilsha, purchased with the bank loan.
While talking to the FE, commerce secretary Firoz Ahmed said: "The exporters will be allowed to export those hilsha, for which they have already opened letters of credit (L/Cs). But the government has banned fresh export of hilsha for the next six months."
The government has successfully controlled the sale of 'Jhatka' (hilsha fries), resulting in the availability of large-sized hilsha in the markets.
The government banned hilsha export for the next six months to bring down the prices of the delicious fish.
However, the prices are still maintaining the same trend despite imposition of the ban on export.